BEIJING, April 9 (Xinhua) -- Malta and Kyrgyzstan have been approved as prospective founding members of the Asian Infrastructure Investment Bank (AIIB), China's Ministry of Finance said on Thursday.
This brings the number of prospective founders to 37, the ministry said.Membership will be finalized on April 15.
Founding members have the right to make rules for the bank. Countries that applied to join after March 31 will be ordinary members with voting rights only, and less say in the rule-making process.
The AIIB will finance for roads, railways, airports and other infrastructure in Asia. It is expected to be established by the end of this year.
BEIJING, April 7 (Xinhua) -- Iran and United Arab Emirates (UAE) have been approved as founding members of the Asian Infrastructure Investment Bank (AIIB), China's Ministry of Finance announced on Tuesday.
WASHINGTON, April 7 (Xinhua) -- World Bank welcomes the new development banks, such as China-proposed Asian Infrastructure Investment Bank (AIIB) and the New Development Bank established by the BRICS countries, and is ready to share experience with them, World Bank President Jim Yong Kim said on Tuesday.
The new multilateral banks could help bridge financing gaps in areas such as infrastructure, energy, and water, said Kim in a speech delivered at the Center for Strategic and International Studies in advance of the World Bank/IMF Spring Meetings which will be held next week.Full Story